First Solar (NASDAQ:FSLR) Shares Gap Up to $174.29

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $174.29, but opened at $179.42. First Solar shares last traded at $175.46, with a volume of 327,315 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on FSLR shares. Barclays upped their target price on shares of First Solar from $224.00 to $227.00 and gave the company an "overweight" rating in a report on Friday. DZ Bank began coverage on shares of First Solar in a report on Wednesday. They set a "buy" rating and a $205.00 price objective on the stock. Mizuho increased their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a "buy" rating in a report on Wednesday, January 3rd. Oppenheimer reiterated an "outperform" rating and set a $269.00 price objective on shares of First Solar in a report on Wednesday. Finally, Roth Mkm reiterated a "buy" rating and set a $230.00 price objective on shares of First Solar in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.68.

First Solar Trading Up 0.4 %

The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 0.31 and a beta of 1.41. The business's fifty day simple moving average is $161.34 and its 200 day simple moving average is $156.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, research analysts predict that First Solar, Inc. will post 13.55 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, CTO Markus Gloeckler sold 1,937 shares of the firm's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares in the company, valued at $2,193,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 16,667 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 over the last 90 days. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently added to or reduced their stakes in FSLR. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Solar by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer's stock valued at $94,419,000 after purchasing an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer's stock valued at $68,852,000 after purchasing an additional 333,496 shares in the last quarter. Sora Investors LLC raised its stake in shares of First Solar by 63.6% during the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer's stock valued at $14,543,000 after purchasing an additional 35,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer's stock valued at $1,945,549,000 after purchasing an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC raised its stake in shares of First Solar by 304,592.2% during the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer's stock valued at $26,771,000 after purchasing an additional 155,342 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.